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Ukrainian-founded Kurs Orbital Lands €3.7M for Next-Gen Space Solutions

Space satellite
Image credit: Kurs Orbital
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In a nutshell:

  • Kurs Orbital, a space tech startup, providing in-orbit servicing solutions, closed a €3.7M seed round, led by European deep tech VC firm OTB Ventures, with participation from Credo Ventures, Galaxia (a fund established by CDP Venture Capital, and Obloo Ventures), In-Q-Tel and Inovo.
  • Founded by Ukrainian space industry veterans, the company will utilize the funding to accelerate the commercialization of its satellite servicing technology and expand its team.

 

Their background story:

Kurs Orbital was founded by a Ukrainian space industry veteran in 2022. Volodymyr Usov, CEO and co-founder, was previously the Chairman of the State Space Agency of Ukraine.

Kurs Orbital facilitates satellite life extension and space debris removal missions, ensuring safe and sustainable orbits for future generations. It extends human activities beyond Earth by offering on-orbit servicing, a platform that aims to be the foundation to support many future space businesses.

The company focuses on establishing the basic framework for a growing space industry. Kurs developed ARCap, a standardized module that can be incorporated into various types of spacecraft, including satellites, orbital transfer vehicles (OTVs), cargo or crewed ships, and spacecraft buses. This module facilitates transportation, extending the lifespan of satellites, in-orbit servicing, space debris cleanup, and other functions.

The company is based in Italy, with headquarters in Kyiv. Part of the technical team and one of the facilities are also located in Ukraine.

 

In their own words:

“This round is critical for our next step – delivering powerful and cost-effective rendezvous technology to the market”, said Usov. “With the help of our investors, we will be able to reach the market sooner, enabling many other startups and companies to start debris removal and satellite servicing operations that are vital for sustainable space activities.”

 

Investor’s perspective:

“Spacetech is a potential new frontier that can experience 100x growth over the next 10 years”, shared Maciej Małysz, an investor at Inovo VC.

Read more:  Kuwait to launch its first space mission in late June in partnership with the Bulgarian EnduroSat

“Vlad, the CEO, has a great clarity of thought in what, why, and how he wants to build which is backed by a proven track record of operating in spacetech and also being an entrepreneurial mind”, he added.

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https://therecursive.com/author/teodoraatanasova/

Teodora Atanasova is a News Editor at The Recursive. She covers everything around funding rounds, exits, startups expanding to international markets, big tech opening R&D in CEE, meaningful for the ecosystem partnerships.